Croatian Rimac reportedly wants to become the full owner of Bugatti Rimac, the joint venture that currently also has Porsche as an owner.
Rimac founder Mate Rimac made no secret to Bloomberg that talks are ongoing about a complete takeover of Bugatti Rimac by Rimac. It hasn’t reached that point yet, but the aim would be to finalize that deal as early as next year. This would mean Bugatti would then fall entirely into Rimac’s hands, where Porsche currently still holds a 45 percent stake in the Bugatti Rimac joint venture. The other 55 percent is held by the Rimac Group, of which founder Mate Rimac is the largest (but not the only) shareholder.
According to insiders consulted by Bloomberg, Rimac has already made an offer for the remainder of Bugatti Rimac, an amount that would value the company at around 1 billion euros. Mate Rimac seems primarily fed up with the sluggishness and inefficiency that almost by definition comes with cooperation within a joint venture. “I want to be able to make long-term decisions and do things differently without having to explain it to 50 people first,” the 37-year-old Croatian entrepreneur is said to have stated.
Bugatti was owned by the Volkswagen Group from 2000 to 2021 but was largely sold to Rimac in 2021 through the aforementioned joint venture.